Viable Ferry in Yarmouth Now A Step Closer

first_imgThe province has received business plans from three companies interested in operating a ferry in Yarmouth, putting residents and businesses in southwest Nova Scotia one step closer to having a ferry. “There was significant interest from experienced ferry operators around the world and we are pleased to see three of these companies develop that interest into business plans,” said Graham Steele, Minister of Economic and Rural Development and Tourism. “The next step is for those plans to be carefully evaluated to see if they meet the criteria to run a viable, sustainable ferry service between Yarmouth and the United States.” The deadline for proposals was Thursday, July 4. The companies that made submissions are Balearia Caribbean, Ltd., P and O Ferries and STM/Quest. A team of representatives from the Nova Scotia International Ferry Partnership and government departments will evaluate the plans as quickly as possible. The plans will be assessed based on criteria similar to the request for proposals. Criteria include financial stability, a management structure with expertise and a history of managing successful ferry services, and tourism and marketing experience. The ferry partnership continues to play a key role by providing expert advice, promoting the opportunity, contacting companies, acting as a local contact and now evaluating plans. “I want to thank the community, tourism leaders and the international ferry partnership for their passion, hard work and dedication to making a new, viable ferry a reality,” said Mr. Steele. The province remains committed to investing up to $21 million over seven years to a qualified operator with a viable and sustainable business plan showing a viable service. The target is to have a ferry service up and running in 2014, as recommended by the expert ferry panel. The document outlining the opportunity is available at .last_img read more

Loblaw tests out new smaller discount grocery store format in Calgary

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Canada’s largest grocer is trying out a new discount small-store format in a bid to attract more customers in urban areas.Loblaw Cos. Ltd. (TSX:L) said it opened the new 10,000-square foot store a few weeks ago in Calgary.The location, named Box by No Frills, offers “hard discounts and an everyday low price” on groceries and other merchandise, Sarah Davis, Loblaw’s chief financial officer said in a conference call Wednesday.“We are trying that as a pilot to see, ‘Is it something that we can infill in a lot of areas of Canada because it’s only 10,000 square feet?’ ” she told investors from the company’s Brampton, Ont., headquarters.Loblaw’s discount chain of stores, No Frills, are typically 25,000 square feet. The company also operates a number of other banners, including Real Canadian Superstore, which has a large format and wide range of general merchandise in addition to groceries.The new Box format is being tested as the company creates one of Canada’s largest commercial real estate trusts with its grocery property assets, and prepares for stiffer competition from Target, Wal-Mart Canada and Sobey’s, which recently announced a $5.8-billion deal to buy Safeway Inc. in Western Canada.Davis said if the small-box format is successful, the grocery chain will buy new property to develop them into more locations under the Box banner.“From that perspective, it’s not reformating properties that have gone into the REIT, but trying out new formats with new real estate,” said Davis.Loblaw first announced plans to turn its properties into a REIT last December.It values its property holdings at $7 billion and said the trust will help the company optimize the value its real estate portfolio, lower the cost of capital for real estate and increase the speed of development of new retail sites.The new Choice Properties Real Estate Investment Trust will hold 415 retail properties, one office complex and nine warehouse properties totalling 35.3 million square feet of gross leasable area.Loblaw, which will own a stake in Choice, is Canada’s largest grocer with more than 1,000 corporate and franchised stores from coast to coast. The company and its franchisees employ approximately 134,000 full-time and part-time employees.Among the companies banners are: Loblaws, Zehrs, Provigo, Fortinos, Liquorstore and SaveEasy and among its brands are President’s Choice, No Name and the Joe Fresh line of clothing. Loblaw tests out new smaller discount grocery store format in Calgary by Linda Nguyen, The Canadian Press Posted Jun 19, 2013 11:50 am MDT read more